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Balance sheet 2011 dec'10 - sept'11

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Balance sheet 2011 dec'10 - sept'11 Powered By Docstoc
					               Asia Pacific General Insurance Co. Ltd.
                              Unaudited Balance Sheet
                              as on September 30,2011


                                               September,30         December,31


                                                  2011                 2010
A .FIXED ASSETS
Administrative fixed assets                        38,994,949           35,570,337

B.CURRENT ASSETS
Stock of printing and stamp                             247,875           216,968
Advance ,deposits and prepayments                  38,219,263           27,755,440
Accrued interest and rent                          29,788,407            7,805,015
Cash & bank balance including FDR                 544,377,031          540,251,836
Investment in shares                              140,491,596          140,183,019
Security bond                                       9,000,000            9,000,000
Sundry debtors                                     53,375,366           50,686,683
Total current assets                              815,499,538          775,898,961

C.CURRENT LIABILITIES
Creditors and accruals                             78,974,613           65,398,462
Outstanding claims                                 37,470,673           41,307,684
Total Current Liabilities                         116,445,286          106,706,146

D. NET WORKING CAPITAL (B-C)                      699,054,252          669,192,815

NET ASSETS(A+D)                                   738,049,201          704,763,152

Share Holding equity
Share capital                                     423,500,000          423,500,000
Revenue reserve                                   102,698,750          102,698,750
Reserve Fund                                       76,523,411           73,354,891
Retained earnings                                  62,500,000           49,677,700
Total Share Holders equity                        665,222,161          649,231,341

BALANCE OF FUND AND ACCOUNT
Reserve for unexpired risk                         64,083,057           53,334,984
Premium deposit                                     8,743,983            2,196,827

Total Taka                                        738,049,201          704,763,152



Chief Financial Officer                                   Managing Director
                        Asia Pacific General Insurance Co. Ltd.
                                 Unaudited Income Statement
                        For the 3rd Quarter ended September 30,2011

                                      January to       January to       July to          July to
                                      September        September        September        September
                                      30,2011          30,2010          30,2011          30,2010


Gross Premium                            160,038,692      120,941,294       56,004,824       41,215,244
Re-insurance premium ceded              (51,100,675)     (43,375,317)     (17,332,075)     (15,123,644)
Net Premium                             108,938,017       77,565,977       38,672,749       26,091,600
Re-insurance commission                  16,841,076        7,587,054        5,196,901        3,044,088

Management exepenses and commission     (54,562,365)     (43,099,428)     (22,167,340)     (17,443,097)

Net claim                               (18,987,945)     (11,980,958)      (9,374,000)      (6,959,997)

Underwriting result                      52,228,783       30,072,645       12,328,310        4,732,594


Profit/(loss) on sale of shares             920,498       18,815,464          795,926        8,720,801
Investment income                        41,025,666       21,844,468       15,352,623        7,487,655
Dividend received                         1,020,764          263,039          108,040          129,228
Net profit before Tax                    95,195,711       70,995,616       28,584,899       21,070,278


Reserve for exceptional lossess           6,000,000        4,000,000                -        1,000,000

Provision for Income Tax                 20,000,000       21,500,000        5,000,000        6,000,000

Net income after Tax                     69,195,711       45,495,616       23,584,899       14,070,278

Earning per share(EPS)                         16.33          21.48            5.57          6.64
                                      January to     January to     April to June April to June




Chief Financial Officer                                                 Managing Director
Asia Pacific General Insurance Co. Ltd.
         Unaudited Income Statement
For the 3rd Quarter ended September 30,2011
Asia Pacific General Insurance Co. Ltd.
         Unaudited Income Statement
For the 3rd Quarter ended September 30,2011
Asia Pacific General Insurance Co. Ltd.
         Unaudited Income Statement
For the 3rd Quarter ended September 30,2011
                       Asia Pacific General Insurance Co. Ltd.
                         Unaudited CashFlow Statement
            For the 3rd Quarter ended January to September 30 ,2011


                                                         Jan-Sept         Jan-Sept
                                                               2011             2010

A.Cash Flow from operating activities

Turnover against insurance business                      54,871,330       118,371,270
Investment and other income                               3,126,613        24,521,884
Business cost,Claim and other Expenses                   (33,329,977)     (91,279,540)
Tax Paid                                                        -         (11,851,055)
VAT paid to Govt.                                        (1,602,707)       (5,529,534)
Net cash flow from operating activities                  23,065,259        34,233,025


B.Cash flow from investing activities

Sale of Shares                                                  -          18,130,955
Purchase of fixed assets                                        -            (765,810)
FDR                                                        (500,000)       (8,002,723)
Invsetment in shares                                      (1,204,074)      (7,585,963)
Dividend Paid                                            (37,235,990)            -
Net cash flow from investing activities                  (38,940,064)       1,776,459


C.Cash flow from financing activities
Loan Received                                            20,000,000       (30,402,500)
Net cash flow from financing activities                  20,000,000       (30,402,500)


Net cash flow for the half year (A+B+C)                   4,125,195         5,606,984

Closing cash and bank balances                          544,377,031       279,106,579

Opening cash and bank balances                          540,251,836       273,499,595
                                                          4,125,195         5,606,984



Chief Financial Officer                               Managing Director
     Asia Pacific General Insurance Co. Ltd.
             Unaudited CashFlow Statement
For the 3rd Quarter ended January to September 30 ,2011

				
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